Adani Power is is looking to set up thermal and hydro power projects in South Asian countries following its recent foray into nuclear and international hydropower ventures.
Pivoting to International Hydro
The company recently signed a memorandum of understanding for a 500 MW hydropower capacity addition in Bhutan, under a 50:50 joint venture with Druk Green Power (DGPC) of the Bhutan government.
“We are exploring more such opportunities in the hydro and thermal power sectors in nearby regions, which will allow us to utilise our capabilities in project development and power plant operations for achieving long term growth and sustainable value generation for our stakeholders,” said a company spokesperson.
The spokesperson added that the company would also consider 500 MW projects in other countries. Adani Power’s Godda plant in Jharkhand currently supplies power to Bangladesh.
The Wangchhu project is the first hydropower development to be taken up under an MoU signed in May 2025 between the Adani Group and DGPC for jointly developing 5,000 MW of hydropower in Bhutan. The Adani Group said the two sides are engaged in further discussions on additional projects under this strategic partnership.
Ambitious FY32 Targets
Adani Power aims to add 24 GW of thermal power capacity by FY32—equivalent to 30% of India’s planned thermal addition by that year. The company targets a total installed capacity of 41.87 GW by FY32, up from 18.15 GW currently, and has earmarked Rs 2 lakh crore in capital expenditure to achieve this.
Tata Power also has a presence in Bhutan. It recently signed commercial agreements with Druk Green Power Corporation to acquire a 40% stake in a special purpose vehicle for Rs 1,572 crore to develop the 1,125 MW Dorjilung hydropower project in the country.
